838-Acre Nebraska Farm Added to Farmland Partners Portfolio
June 02 2022 - 6:10AM
Business Wire
Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) on
Wednesday completed its seventh farm acquisition of the year when
it purchased 838 acres of Nebraska farmland for $11.6 million.
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Farmland Partners Inc.'s new farm in
Hamilton County, Nebraska. (Photo: Business Wire)
The row crop farm is the Company’s first in Hamilton County,
which sits in the middle of a fertile seed corn production area and
is known for good soils and water availability. The farm consists
of nine individual tracts with several improvements, including
irrigation, a grain storage system, and ample equipment storage.
The acquisition also encompassed a house, office building, and
heated shop.
“This is a turn-key operation and is among the nicest properties
in our portfolio,” said FPI Chairman and CEO Paul Pittman. “We have
an excellent tenant in place and are looking forward to a bright
future in Hamilton County.”
FPI now owns 31 farms in Nebraska, spanning 7,216 acres. It is
the nation’s largest publicly traded farmland REIT by U.S.
acreage.
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate
company that owns and seeks to acquire high-quality North American
farmland and makes loans to farmers secured by farm real estate. As
of the date of this release, the Company owns and/or manages nearly
185,000 acres in 18 states, including Alabama, Arkansas,
California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa,
Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North
Carolina, South Carolina, and Virginia. We have approximately 26
crop types and more than 100 tenants. The Company elected to be
taxed as a real estate investment trust, or REIT, for U.S. federal
income tax purposes, commencing with the taxable year ended
December 31, 2014. Additional information: www.farmlandpartners.com
or (720) 452-3100.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the federal securities laws, including, without
limitation, statements with respect to expected yields on acquired
farmland, our outlook, proposed and pending acquisitions and
dispositions, the potential impact of trade disputes and recent
extreme weather events on the Company's results, financing
activities, crop yields and prices and anticipated rental rates.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "may," "should," "could,"
"would," "predicts," "potential," "continue," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates" or similar expressions or their negatives, as well as
statements in future tense. Although the Company believes that the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, beliefs and expectations, such
forward-looking statements are not predictions of future events or
guarantees of future performance and our actual results could
differ materially from those set forth in the forward-looking
statements. Some factors that might cause such a difference include
the following: general volatility of the capital markets and the
market price of the Company's common stock, changes in the
Company's business strategy, availability, terms and deployment of
capital, the Company's ability to refinance existing indebtedness
at or prior to maturity on favorable terms, or at all, availability
of qualified personnel, changes in the Company's industry, interest
rates or the general economy, adverse developments related to crop
yields or crop prices, the degree and nature of the Company's
competition, the timing, price or amount of repurchases, if any,
under the Company's share repurchase program, the ability to
consummate acquisitions or dispositions under contract and the
other factors described in the section entitled "Risk Factors" in
the Company's Annual Report on Form 10-K for the year ended
December 31, 2021, and the Company's other filings with the
Securities and Exchange Commission. Any forward-looking information
presented herein is made only as of the date of this press release,
and the Company does not undertake any obligation to update or
revise any forward-looking information to reflect changes in
assumptions, the occurrence of unanticipated events, or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220602005331/en/
Phillip Hayes phayes@farmlandpartners.com
Farmland Partners (NYSE:FPI)
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